Laureate intends to sell Universit Internationale de Casablanca toKMR Holding Pdagogique, aprivate higher education company that operates in French-speaking parts of Africa, for 500 million Moroccan dirhams, which is roughly $53.

This strategic project alone will give Morocco 50,000 new jobs and combine investment of more than 10 billion Moroccan dirhams (more than $1 billion/912 million euros ), Moulay Hafid Elalamy said, after the deal was signed on Friday in the presence of King Mohamed VI.

Traditional Moroccan handicrafts such as carpets and jewellery form a significant part of that country's economy, with the government there hoping to increase the value of handicraft exports to 7 billion Moroccan dirhams (BD2.

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